FedEx Corp. (NYSE: FDX) announced on Monday that the company is going to hire 20,000 seasonal workers to handle holiday shipping that is expected to have a 13% increase as compared to the previous year. 300,000 permanent workers worldwide are working for the company.
FedEx is expecting 280 million packages between Thanksgiving and Christmas, and this hiring will help the company to manage its shipping. Out of all this shipping it is expected that 19 million shipments will be managed on 10th December 2012 which is a 10% increase year-over-year.
The hiring of employees throughout the year will aid the company in the holiday season and therefore FedEx will not hire more additional seasonal employees than last year. The majority of the new employees were hired for FedEx Ground® and SmartPost divisions, which will manage a big mass of online trade passage.
FedEx declared its fiscal year earnings in September and, according to the report, slow worldwide increase was driving clients away from the additional expensive urgent services. The company’s chief executive said trade had slowed to levels not seen during the last two significant economic downturns. FedEx opponent, United Postal Service (NYSE: UPS), doesn’t declare any thing regarding its holiday shipments, but it is estimated that it will also take benefit from additional employees during November and December.
United Parcel Service has made some delivery deals for some their main online retailer, the company has incorporate with Amazon. It will expect to handle 17.9 billion letters, packages and cards between these holidays.
FedEx networks will provide a variety of shipping choices to its customers which include FedEx Express and FedEx SameDay® and will provide its services in high-value and other goods; FedEx Ground® will provide its aid in Home Delivery in residential locations and FedEx SmartPost in residential shipping service designed for online.
FedEx Corporation (NYSE:FDX) stock traded at the beginning with a price of $92.12 and throughout the trading session climbed to a high of $92.25 and later, when day-trade ended, the stock finally declined -0.68% to $ 91.48.
Shares price of FDX moved up from its 20 days moving average 4.19% and positively from 50 days moving average 3.99%. FDX current year earnings per share experienced an addition of 40.03%.
The stock showed weekly performance of 0.92% which was maintained for the month at 8.40%. The positive performance for the quarter was recorded as 4.51% and for the year was 16.03%.